Mexican billionaire from Forbes list dies at 90

Mexican billionaire Alberto Bailleres, a mining and retail tycoon known as a patron of higher education and the arts, has died, aged 90, Report informs, citing Reuters.

A long-time fixture on Forbes magazine's rich list with fellow Mexicans such as Carlos Slim and German Larrea, Bailleres made his fortune across a range of industries, and was a key sponsor of one of the country's most prestigious universities.

The founder of Mexico mining company Industrias Penoles , a world leader in silver production, Bailleres had an estimated net worth of $8.6 billion in 2022, according to Forbes.

Bailleres was for decades chairman of the board of trustees of the Instituto Tecnologico Autonomo de Mexico (ITAM), a university founded in 1946 by a group of bankers, industrialists and businessmen led by his father, Raul Bailleres.

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